Residential Property Management/going from renting to selling...

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Expert: Donald J. Leske II - 9/2/2014

QuestionMr. Leske,

First of all, thank you very much for volunteering on this site!

Brief background: We were trying to sell a house in Louisiana for a while but since we couldn't, we decided to rent it. The sales agent passed us onto their property mgt section. Through them we rented our house out. - The contract we have w/the rental agent only specifies the amount of rent, nothing about option to buy.

Q: Should the renter want to buy our house, would the renting agent - whom we hired - have any right to any commission?

Q: Am I under any obligation to retain my rental agent for any period of time? In other words, after they found a renter (who appears to have a rental agent as well) for us, what sort of obligation - if any - do I have to them? Right now they are getting 10% of the rent.

Q: Under what circumstances would it be OK for me to make direct contact with the renters?

Once again, thank you very much for volunteering on this site!
Sincerely,
Pablo Durissimo

AnswerHello Pablo,

All your questions must be within your contract for services, or they are most likely not required. All terms must be spelled out to be enforceable. I am not licensed in your state and I am not an Attorney so cannot give legal advice.

You will notice that on my contract with Owners of rental properties, that I have all terms and conditions spelled out. See:

Donald J. Leske II

Expertise

Advocate for Landlord & Tenant Rights. Based in Washington State as a Licensed Real Estate Broker and Property Manager. I am a Landlord but I am not a Lawyer. Ask any question dealing with the rental of residential properties, including; 1. Evictions. 2. Maintenance & repair issues. 3. How to set a fair rental price. 4. When to hire a property manager. 5. Selling and how to determine value. 6. Basic tax questions and Legal issues ok, but most will be referred to a professional in that field.

Experience

I have 30 years experience in Property Management with about 560 clients, plus I own my own Real Estate Brokerage (www.Homesandproperties.com) with expanded experience & training in Short Sales, Foreclosure negotiations and rental property management. I write an informal online Real Estate News Magazine and am a member of NARPM, National Association of Residential Property Managers and have been quoted by News Agencies.